Pooja Logistics IPO Day 3: Subscribed 2.92x; QIB entry drives final surge
- Pooja Logistics IPO subscribed 2.92x overall on Day 3
- QIBs subscribed 2.50x after zero interest in first two days
- bHNI category saw highest demand at 5.52x
- Allotment date set for September 28, 2026
*this image is generated using AI for illustrative purposes only.
Pooja Logistics IPO closed at 2.92 times overall subscription on Day 3, marking a significant surge from earlier days. Qualified Institutional Buyers (QIBs) entered aggressively in the final hours, while Non-Institutional Investors (NII) led the demand with the bigger HNI category subscribing 5.52 times.
Subscription Status
The issue saw a steady buildup of interest over the first two days but experienced a massive acceleration on the final day. Total subscription rose from 0.34x on Day 1 to 0.47x on Day 2, before jumping to 2.92x by the close of Day 3. The most significant shift occurred in the last hour of trading, where QIBs entered aggressively and HNI bids spiked.
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 23-09-2026 | 0.00x | 0.09x | 0.35x | 0.57x | 0.34x |
| Day 2 | 24-09-2026 | 0.00x | 0.26x | 0.51x | 0.76x | 0.47x |
| Day 3 | 25-09-2026 | 2.50x | 5.52x | 3.58x | 2.46x | 2.92x |
Category-wise Breakdown
Non-Institutional Investors (NII) led the demand on the final day. The bigger HNI category (bHNI) subscribed 5.52 times, showing a massive jump from previous days. Smaller HNIs (sHNI) followed with a subscription rate of 3.58 times. Retail investors also showed strong appetite, subscribing 2.46 times. A key development was the late entry of Qualified Institutional Buyers (QIBs), which subscribed 2.50 times after showing zero interest in the first two days. The Employee quota remained low at 0.43 times.
Intra-day Timeline
Demand accelerated sharply between 14:15 IST and 16:15 IST. During this period, QIB subscription jumped from 0.00x to 2.50x, while bHNI bids surged from 0.95x to 3.58x. This late momentum pushed the total issue subscription past the 2x threshold.
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.00x | 0.33x | 0.92x | 0.59x |
| 12:15 | 0.00x | 0.43x | 1.01x | 0.68x |
| 13:15 | 0.00x | 0.59x | 1.14x | 0.85x |
| 14:15 | 0.00x | 0.95x | 1.25x | 0.96x |
| 15:15 | 1.12x | 1.79x | 1.54x | 1.60x |
| 16:15 | 2.50x | 3.58x | 2.46x | 2.92x |
| 17:15 | 2.50x | 3.58x | 2.46x | 2.92x |
Offer Details
The Pooja Logistics IPO opened for subscription on September 23, 2026, and closed on September 25, 2026. The price band was set between ₹109.00000 and ₹115.00000 per share, with a minimum bid quantity of 2400 shares.
| Parameter | Details |
|---|---|
| Price Band | ₹109.00000 - ₹115.00000 |
| Issue Size | 392400 - 500000 |
| Min Bid Qty | 2400 |
| Open Date | 2026-09-23 |
| Close Date | 2026-09-25 |
About the Company
Pooja Logistics Limited, incorporated in 2011, provides temperature-controlled logistics services for perishable goods across India. The company operates a GPS-enabled refrigerated truck fleet of over 424 vehicles, serving clients in confectionery, dairy, quick-service restaurants (QSRs), pharmaceuticals, and e-commerce sectors. Led by Promoter and Managing Director Mr. Deepak Khanna, who has over 14 years of industry experience, the company operates across more than 26 states.
Financial Highlights
The company has shown steady growth in revenue and profitability over the last three fiscal years.
| Particulars (₹ crore) | FY2026 | FY2025 | FY2024 |
|---|---|---|---|
| Revenue from Operations | 165.70 | 148.77 | 123.75 |
| Total Revenue | 167.77 | 150.49 | 125.14 |
| Profit Before Tax | 16.33 | 14.64 | 7.55 |
| Net Profit | 12.34 | 11.02 | 5.73 |
Objects of the Issue
- Purchase of Vehicles: Expand the existing fleet by adding 92 new refrigerated vehicles to meet rising demand and reduce dependence on hired vehicles.
- General Corporate Purpose: Deploy a portion of proceeds towards general corporate purposes, strategic alliances, and growth opportunities.
- Public Issue Expenses: Meet expenses related to underwriting, management fees, printing, distribution, advertisement, legal fees, and listing fees.
What's Next
Allotment is scheduled for September 28, 2026, with listing expected on September 30, 2026.
How will the late surge in QIB interest influence Pooja Logistics' listing price performance relative to the upper price band?
What impact will the aggressive HNI demand have on the retail investor allotment ratio and potential listing gains?
How effectively can Pooja Logistics deploy IPO proceeds to expand its refrigerated fleet and reduce reliance on hired vehicles without diluting margins?
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